Hims & Hers Health (NYSE:HIMS) Sets New 12-Month High on Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS) shares reached a new 52-week high during trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from $38.00 to $68.00. Canaccord Genuity Group currently has a buy rating on the stock. Hims & Hers Health traded as high as $67.21 and last traded at $67.62, with a volume of 5741452 shares. The stock had previously closed at $58.50.

HIMS has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Morgan Stanley cut shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $42.00 to $60.00 in a report on Tuesday. Bank of America downgraded shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $32.00 to $18.00 in a research report on Thursday, November 14th. TD Cowen reaffirmed a “buy” rating and set a $28.00 price objective on shares of Hims & Hers Health in a research report on Wednesday, November 20th. Finally, Piper Sandler increased their target price on Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $28.33.

Insider Buying and Selling at Hims & Hers Health

In other news, insider Soleil Boughton sold 2,343 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $29.90, for a total transaction of $70,055.70. Following the completion of the sale, the insider now owns 165,254 shares in the company, valued at $4,941,094.60. This represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Chi sold 2,054 shares of Hims & Hers Health stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.56, for a total transaction of $68,932.24. Following the completion of the transaction, the insider now owns 184,947 shares in the company, valued at approximately $6,206,821.32. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,052,332 shares of company stock worth $32,620,497. 17.71% of the stock is owned by insiders.

Hedge Funds Weigh In On Hims & Hers Health

A number of large investors have recently bought and sold shares of HIMS. Vanguard Group Inc. increased its stake in shares of Hims & Hers Health by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company’s stock worth $489,817,000 after acquiring an additional 2,020,722 shares during the period. Farallon Capital Management LLC boosted its holdings in Hims & Hers Health by 64,338.5% in the 4th quarter. Farallon Capital Management LLC now owns 8,377,000 shares of the company’s stock valued at $202,556,000 after purchasing an additional 8,364,000 shares in the last quarter. Renaissance Technologies LLC increased its position in Hims & Hers Health by 29.0% during the 4th quarter. Renaissance Technologies LLC now owns 6,951,152 shares of the company’s stock worth $168,079,000 after purchasing an additional 1,562,302 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Hims & Hers Health by 192.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,304,202 shares of the company’s stock worth $152,436,000 after buying an additional 4,145,305 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Hims & Hers Health by 4.7% in the 3rd quarter. State Street Corp now owns 4,626,543 shares of the company’s stock valued at $85,221,000 after buying an additional 206,078 shares during the period. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Price Performance

The stock has a 50 day moving average of $33.94 and a two-hundred day moving average of $25.19. The stock has a market capitalization of $15.05 billion, a PE ratio of 156.54 and a beta of 1.35.

About Hims & Hers Health

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.